Study On The Risk Of Accounts Receivable Pledge Under The Supply Chain Finance Mode Of SMEs

Since China's reform and opening-up policy has been carried out for forty years,our country's small and medium-sized enterprises have been developing rapidly.However,the problem of difficult and expensive financing has been interfering with SMES.The supply chain finance as a creative financial product of commercial banks,it can provide new ideas for SMES to break through the financing difficulties by transferring the receivables and creditor's rights generated by their transactions with core enterprises in the supply chain.In the current time,with the increase of accounts receivable of small and medium-sized enterprises in China,it is very difficult for banks to carry out this kind of business.The fundamental reason is that banks still use the traditional credit risk evaluation index system to measure the credit risk of small and medium-sized enterprises when they accept such businesses,without measuring the credit risk of small and medium-sized enterprises from objective perspectives and overestimating the risk of such business.Based on the above background,this thesis proposes the risk sources of accounts receivable pledge financing mode under the supply chain finance.Therefore,the paper has focused on credit risk.Credit risk is the most critical link in risk management.This paper puts forward a new credit risk evaluation index system for the financing of accounts receivable pledge under the supply financing chain.Building up the credit risk evaluation index system that is based on the financial accounts receivable pledge in financing business under the supply chain.Meanwhile mixing the accounts receivable debt rating,industry status and financing subject qualification into the credit risk control variables.This thesis adopts fuzzy comprehensive evaluation method on the basis of the new index system and calculates credit level from the perspective of quantitative calculation under the supply chain of financial accounts receivable pledge in financing business.In addition,taking M enterprise as an example,this paper uses the fuzzy comprehensive evaluation method to calculate the credit risk of M enterprise under the supply chain finance from a quantitative perspective,which is obviously lower than that of the traditional design mode.The case of M enterprise illustrates that under the new indicator system,the credit level of SMES has been significantly improved.In the end,the paper puts forward the corresponding risk prevention measures according to the risk sources of developing this kind of business.This study can provide theoretical support for commercial banks to carry out accounts receivable pledge business under the supply chain environment.